The taxpayers whose aggregate turnover during preceding financial year exceeded Rs. 1.5 Cr or the new registrants who estimate their turnover to exceed Rs. 1.5 Cr during current financial year, have to file return on monthly basis. Filing of GSTR-1 for the tax period of August, 2017 and onwards is likely to commence soon. In the meantime, such taxpayers can upload the invoices for August, September, October 2017 to avoid last minute rush.

The taxpayers whose aggregate turnover during the preceding financial year remained upto Rs. 1.5 Cr or the new registrants who estimate their turnover to remain upto Rs. 1.5 Cr during current financial year, but who intends to file return on monthly basis, can also upload the invoices for the month of August, 2017.

All other taxpayers liable to file GSTR-1 shall upload the invoices and file GSTR-1 for the quarter ending September, 2017 after the option to file the same is available on the portal. The taxpayers eligible to file return on quarterly basis but have already filed the return for the month of July, 2017, shall have to upload the invoices of August and September jointly and have not to include the invoices of July month again.

The taxpayers who have not filed GSTR-1 for the month of July, are advised to file the same quickly as they will not be able to file GSTR-1 for remainder of quarter (August-September) till they have filed GSTR-1 of July.

2 responses to “Advisory to taxpayers liable to file GSTR-1”

01. Infra industry – public utility projects of govt., the state and central govt agencies are not yet issuing the gst invoices and uploading in the portal. also gst rate of 18&12% are very high keeping in view service tax was exempt for road, irrigation govt projects having long gestation period, environmental clearances of mining natural items of sand, soil, aggregate etc availability and rates, permissions and licences along with transportation and mechanical equipment upkeep requirements should be outside gst scope. hence overall rate of 5% which is now limited to earth work of above 80% which is not practicable be applied to all govt projects as per recommendation from sri. nitin gadkari’s ministry of R&B keeping in view long gestation periods and clearances for land acquisitions involving public involvement.

02. how to handle mismatches in gst-1 and gst-2 of supplier and receiver of goods and services.

03. rcm should be abolished from day one i.e. from july17 since confusion sets in for accounting.

04. gst act execution to take care of other corporate laws and accounting standards, ifrs, indas etc for presentation of accounts which need review by CLB, tax boards , revenue and commerce and law ministries to avoid dispute areas of contentious and tedious issues.for complaince since points of clashes are many.